Gold prices declined by Rs 160 to
Rs 28,200 per 10 grams in the national capital today on
emergence of selling by stockists amid a weak global trend.
Silver also dropped by Rs 400 to Rs 45,000 per kg on
reduced offtake by industrial units and coin makers.
Traders said selling by stockists amid a weak global
trend as a rally in equities dampened demand for an
alternative investment amid concern that physical consumption
is faltering mainly influenced the sentiment.
Gold in Singapore, which normally sets price trend on the
domestic front, fell by 0.7 per cent to USD 1,294.98 an ounce,
the lowest since July 16 and silver by 0.6 per cent to USD
20.79 an ounce.
Besides, sluggish domestic demand from jewellers at
prevailing levels dampened the sentiment.
In Delhi, gold of 99.9 and 99.5 per cent purity fell by
Rs 160 each to Rs 28,200 and Rs 28,000 per 10 grams,
respectively. It had gained Rs 160 yesterday.
Sovereign, however, held steady at Rs 24,900 per piece of
In a similar fashion, silver ready declined by Rs 400 to
Rs 45,000 per kg and weekly-based delivery by Rs 460 to Rs
44,635 per kg. It had gained Rs 200 in the previous session.
On the other hand, silver coins ruled steady at Rs 80,000
for buying and Rs 81,000 for selling of 100 pieces.